Annual report [Section 13 and 15(d), not S-K Item 405]

Warrants (Tables)

v3.25.1
Warrants (Tables)
12 Months Ended
Dec. 31, 2024
Warrants  
Schedule of Outstanding Warrants

The following summarizes the Company’s outstanding warrants to purchase shares of the Company’s common stock as of and for the years ended December 31, 2024 and 2023:

 

    Warrants     Weighted Average
Exercise Price
 
Warrants outstanding as of December 31, 2022     214,400     $ 260.48  
Issued     335,639     $ 11.44  
Exercised         $  
Terminated/Expired       $  
Warrants outstanding as of December 31, 2023     550,039     $ 108.51  
Issued     1,111,350     $ 0.29  
Exercised     (278,000 )   $ 0.01  
Terminated/Expired     (364,044 )   $ 54.83  
Warrants outstanding as of December 31, 2024     1,019,345     $ 39.28  
Schedule of Significant Inputs to Warrants Liabilities

The Alphia warrant liabilities were determined using a risk-neutral Monte Carlo simulation based approach, a Level 3 valuation. The significant inputs to the warrant liabilities were as follows:

 

    December 21, 2023  
    First Tranche Warrant     Second Tranche Warrant  
Exercise price   $ 11.44     $ 11.44  
Stock price   $ 12.00     $ 12.00  
Volatility     62.0 %     62.0 %
Time to maturity     5 years       5 years  
Risk-free rate     3.92 %     3.92 %
Dividend yield     %     %
Schedule of Warrant Liability Activity

The following table summarizes the Alphia warrant liability activity for twelve months ended December 31, 2023:

 

Balance as of December 31, 2022   $  
Warrant liabilities issued     2,208  
Change in fair value of warrant liabilities     236  
Reclassification of warrants liabilities to equity     (2,444 )
Balance as of December 31, 2023   $